• 658 days Will The ECB Continue To Hike Rates?
  • 658 days Forbes: Aramco Remains Largest Company In The Middle East
  • 660 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,060 days Could Crypto Overtake Traditional Investment?
  • 1,065 days Americans Still Quitting Jobs At Record Pace
  • 1,067 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,070 days Is The Dollar Too Strong?
  • 1,070 days Big Tech Disappoints Investors on Earnings Calls
  • 1,071 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,072 days China Is Quietly Trying To Distance Itself From Russia
  • 1,073 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,077 days Crypto Investors Won Big In 2021
  • 1,077 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,078 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,080 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,081 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,084 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,085 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,085 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,087 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Gold Elliott Wave Analysis: Corrective Wave

GOLD Daily

Gold has turned bearish at the start of September, after the break through the rising trend line of a corrective channel. We knew at the time that it was an important signal for a change in trend, which means that bearish price action is back in play which also accelerated at the end of December, so we assume that price is moving down in larger wave 5) heading through 1180 June low. With that said, we think that current bounce is most likely just another corrective rally in the middle of a bearish trend. Resistance is seen around 1250/1270 from where new sell-off could occur.

Gold Daily Elliott Wave Analysis

Gold Daily Elliott Wave Analysis Chart


GOLD 4h

Gold has reached a new swing high around 1254 in this week from where we can see some bearish price action. At the moment a decline from 1254 is definitely still not enough strong and big to confirm end of a three wave (a)-(b)-(c) corrective rally. But further weakness today and tomorrow, back to 1216 wave (b) zone will suggests that new sell-off on gold is in progress.

GOLD 4h Elliott Wave Analysis

Gold 4-Hour Elliott Wave Analysis Chart

 


Written by www.ew-forecast.com
14 days trial just for €1 >> Register Here

 

Back to homepage

Leave a comment

Leave a comment